Emerald Mutual Fund Advisers Trust Decreases Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Emerald Mutual Fund Advisers Trust lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 88,394 shares of the company’s stock after selling 1,298 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 0.12% of Churchill Downs worth $11,952,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CHDN. Kimelman & Baird LLC acquired a new stake in Churchill Downs in the 2nd quarter worth approximately $42,000. Central Pacific Bank Trust Division purchased a new stake in shares of Churchill Downs during the first quarter valued at $44,000. CWM LLC grew its holdings in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 118 shares during the last quarter. UMB Bank n.a. increased its position in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares during the period. Finally, Bank & Trust Co purchased a new position in Churchill Downs in the 2nd quarter worth $84,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on CHDN shares. Jefferies Financial Group boosted their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Stifel Nicolaus upped their target price on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Macquarie raised their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Wells Fargo & Company lifted their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Stock Down 1.2 %

CHDN stock opened at $138.48 on Friday. The firm’s fifty day moving average is $138.25 and its 200 day moving average is $136.49. The firm has a market cap of $10.18 billion, a PE ratio of 25.22, a P/E/G ratio of 3.99 and a beta of 0.96. Churchill Downs Incorporated has a one year low of $108.00 and a one year high of $146.64. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The firm had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.87 EPS. On average, research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs’s dividend payout ratio is presently 7.29%.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.